The French Riviera mansion was bought by New Zealand financier Rayo Withanage for $24 million after three rounds of bidding.
Withanage made his winning offer during the second auction for the property and no new bidders could beat his price on the Spanish artist’s former residence last week, according to Mansion Global.
Known as Mas de Notre Dame de Vie, the property housed Picasso’s studio and his late wife remained living in the house until she passed in 1986. The property has a tennis court, guest house, spa, pool and gardens designed by Picasso himself (though they were restored to be faithful to his original design).
Located close to Cannes, Picasso worked in the mansion from 1961 until 1973, when he passed away at 91 years old.
[Mansion Global] — E.K. Hudson